Company Valuation: Lindt

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 29,923 21,980 23,697 23,214 26,775 19,421 - -
Change - -26.54% 7.81% -2.04% 15.34% -27.47% - -
Enterprise Value (EV) 1 30,217 22,552 24,640 23,863 27,872 20,442 20,375 20,327
Change - -25.37% 9.26% -3.15% 16.8% -26.66% -0.33% -0.24%
P/E 60.5x 39.8x 35.7x 34.5x 37.1x 27.1x 25.5x 23.7x
PBR 5.6x 5.09x 5.63x 4.79x 5.44x 3.89x 3.72x 3.55x
PEG - 2.2x 1.8x 25.55x 4.5x 34.1x 3.97x 3.26x
Capitalization / Revenue 6.53x 4.42x 4.56x 4.25x 4.53x 3.27x 3.16x 3x
EV / Revenue 6.59x 4.54x 4.74x 4.36x 4.71x 3.44x 3.32x 3.14x
EV / EBITDA 32.8x 22.2x 22.5x 20.2x 21.9x 15.9x 15.1x 14.2x
EV / EBIT 46.9x 30.3x 30.3x 27x 28.7x 20.8x 19.7x 18.4x
EV / FCF 51.6x 42.9x 51.6x 27.4x 148x 25x 27x 26.8x
FCF Yield 1.94% 2.33% 1.94% 3.65% 0.67% 4% 3.71% 3.73%
Dividend per Share 2 1,200 1,300 1,400 1,500 1,800 1,860 1,973 2,080
Rate of return 0.98% 1.37% 1.37% 1.5% 1.55% 2.17% 2.3% 2.43%
EPS 2 2,019 2,387 2,859 2,898 3,137 3,162 3,365 3,609
Distribution rate 59.4% 54.5% 49% 51.8% 57.4% 58.8% 58.7% 57.6%
Net sales 1 4,586 4,970 5,201 5,468 5,916 5,938 6,146 6,466
EBITDA 1 921.5 1,018 1,094 1,182 1,271 1,289 1,353 1,436
EBIT 1 644.9 744.6 813.1 884.2 971 981.4 1,036 1,103
Net income 1 490.5 569.7 671.4 672.3 727.2 726.8 764.5 814.3
Net Debt 1 294.7 571.3 943.3 649.4 1,096 1,021 954.3 906
Reference price 2 122,200.00 95,000.00 102,000.00 100,000.00 116,400.00 85,700.00 85,700.00 85,700.00
Nbr of stocks (in thousands) 241 232 233 231 230 229.2 - -
Announcement Date 08/03/22 07/03/23 05/03/24 04/03/25 10/03/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.11x3.44x15.86x2.17% 23.41B
21.64x2.92x14.4x3.79% 257B
19.25x2.47x14.75x3.32% 78.97B
16.89x1.76x10.01x3.7% 45.34B
14.28x0.51x9.2x2.71% 37.22B
19.85x3.04x12.34x3.53% 32.91B
35.11x3.04x17.71x1.06% 30.94B
25.25x5.29x16.86x3.32% 28.79B
-8.41x1.84x9.19x6.72% 28.29B
17.88x1.71x12.11x4.77% 27.22B
Average 18.88x 2.60x 13.24x 3.51% 58.99B
Weighted average by Cap. 19.87x 2.66x 13.66x 3.59%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Lindt

Historical PBR trend

Valuation ratios - PBR - Lindt

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Lindt

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Lindt


Year-on-year evolution of the Yield

Valuation ratios - Yield - Lindt